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Market Price

77.39 

-0.06 -0.1%

as of Jan 23 '19

52 Week Range:

66.12 95.00


Stock Analyzer Tutorials

S2O Stock Analyzer - General Info

General Info


type: video (mp4); length: 3:30

Demonstrates how to use Stock Analyzer, shows how to analyze a stock and explains in detail "General Info" section of the Stock Analyzer result page.

S2O Stock Analyzer - Financial Statements

Financial Statements


type: video (mp4); length: 5:10

Explains information presented in the Financial Statements section of the S2O Stock Analyzer: financial statements charts, absolute values and growth rates.

S2O Stock Analyzer - Growth Grade and Financial Ratios

Growth Grade and Financial Ratios


type: video (mp4); length: 5:09

Demonstrates how to use Growth Grade & Financial Ratios section; shows the difference between historical and year-over-year Growth Grade on the real life example.

S2O Stock Analyzer - Value Price

Value Price


type: video (mp4); length: 6:03

Demonstrates how to use Value Price (intrinsic value) and the Graham Number, MOS (margin of safety) and IRT - Investment Recovery Time; explains 3 different projection models used to compute value price - pessimistic, moderate and optimistic.

S2O Stock Analyzer - Price Charts

Price Charts


type: video (mp4); length: 8:34

Demonstrates basic rules of how to read a candlestick chart, long and short term moving averages, stochastic, MACD and relative strength (RS) charts. Explains how bull or bear market condition is computed.

General Info

Independent Bank Corp. operates as the bank holding company for Rockland Trust Company that provides commercial banking products and services to individuals and small-to-medium sized businesses primarily in Massachusetts. The company's products and services include demand deposits and time certificates of deposit, as well as checking, money market, and savings accounts. Its loan portfolio includes commercial loans, such as commercial and industrial, asset-based, commercial real estate, commercial construction, and small business loans; consumer real estate loans, including residential mortgages, home equity loans, and loans for the construction of residential properties; and other consumer loans, such as personal loans. The company's commercial and industrial loans cover loans for working capital, other business-related purposes, and floor plan financing; asset-based loans consist primarily of revolving lines of credit and term loans; commercial real estate loans include commercial mortgages for construction purposes that are secured by nonresidential properties, multifamily properties, or one-to-four family rental properties; and small business loans comprise businesses with commercial credit needs. It also provides investment management and trust services to individuals, institutions, small businesses, and charitable institutions; Internet and mobile banking services, as well as automated teller machine cards and debit cards; and mutual fund shares, unit investment trust shares, general securities, fixed and variable annuities, and life insurance. The company operates through 84 full service and 2 limited service retail branches, 13 commercial banking centers, 6 investment management offices, and 1 mortgage lending center in Eastern Massachusetts; and an investment management group/commercial lending office in Rhode Island. Independent Bank Corp. was founded in 1907 and is headquartered in Rockland, Massachusetts.

Financial Statements

The charts below show selected Annual and Quarterly Financial Data.

The purpose of these charts is to discover long and short term change dynamics. When numbers are growing year after year in the annual statements chart, the business become stronger and stronger and this is a good sign.

Quarterly Data Chart can be used to do a short term analysis. It makes sense to pay attention to the quarterly dynamics and do not wait for the next yearly statement. We should be alerted if we see that quarterly numbers are going down.

You can check "Annual Financial Statements" and "Quarterly Financial Statements" sections for exact numbers and growth rates.

Annual Statements

On a charts below the Line shows absolute values and the Bar chart shows Year-Over-Year Growth Rate for selected financial statement item. A consistent GROWTH is generally considered necessary to fund future growth from within a business.
NOTE: Growth Rate is not provided if either the latest period or the year-ago period contains a net loss. (source: WSJ Digest of Earnings)
TIP! move your mouse pointer over bar or a circle on any chart below to see details.

Financial Statements

Income Statement



 

Cash Flow Statement



 

Balance Sheet



 

Liquidity Ratios

Current Ratio


 

Current Ratio measures the ability to meet short term obligations. Generally accepted standard is 2 (current assets should be 2 times or 200% of current liabilities).

Quick Ratio


 

Measures immediate liquidity or the cash available to cover immediate liabilities. A safe margin would be at least 1 (100%).

Financial Leverage


 

Defined as total assets divided by total shareholders' equity. The higher the ratio, the more debt a company uses in its capital structure.

Profitability Ratios

ROA


 

Return on Assets (ROA) measures the income (profit) that is generated by the use of the assets of the business.

ROE


 

Return on Equity (ROE) is a measure of profitability that calculates how many dollars of profit a company generates with each dollar of shareholders equity. ROE is sometimes called "return on net worth."

ROIC


 

The Return on Invested Capital (ROIC) measure gives a sense of how well a company is using its money to generate returns. Some investors use this figure as a final evaluation to determine whether or not to invest in a company.

Annual Statements

Item Name Dec '07 Dec '08 Dec '09 Dec '10 Dec '11 Dec '12 Dec '13 Dec '14 Dec '15 Dec '16 Dec '17
Equity (BVPS) 16.23
18.75
19.71
20.57
21.45
23.24
23.34
26.13
28.94
30.30
33.92
growth rate 15.5% 5.1% 4.4% 4.3% 8.3% 0.4% 12.0% 10.8% 4.7% 12.0%
Earnings BIT 37.17
30.52
29.74
52.47
62.58
57.30
66.74
93.12
101.22
119.73
140.18
growth rate -17.9% -2.6% 76.4% 19.3% -8.4% 16.5% 39.5% 8.7% 18.3% 17.1%
Avg.PE 13.59
17.21
23.75
14.25
12.89
14.81
17.99
16.48
18.47
22.43
22.32
growth rate 26.6% 38.0% -40.0% -9.5% 14.9% 21.5% -8.4% 12.1% 21.4% -0.5%
ROA 1.01
0.75
0.43
0.88
0.94
0.79
0.85
0.96
0.96
1.03
1.10
growth rate -25.7% -42.7% 104.7% 6.8% -16.0% 7.6% 12.9% 0.0% 7.3% 6.8%
ROE 12.61
9.12
4.82
9.48
10.04
8.54
8.97
9.71
9.20
9.37
9.64
growth rate -27.7% -47.2% 96.7% 5.9% -14.9% 5.0% 8.3% -5.3% 1.9% 2.9%
ROIC 12.87
9.96
6.78
8.22
8.16
7.03
7.74
8.83
growth rate -22.6% -31.9% 21.2% -0.7% -13.9% 10.1% 14.1%
Leverage 12.56
11.89
10.86
10.76
10.60
10.88
10.31
9.93
9.35
8.92
8.56
growth rate -5.3% -8.7% -0.9% -1.5% 2.6% -5.2% -3.7% -5.8% -4.6% -4.0%
Balance Sheet Dec '07 Dec '08 Dec '09 Dec '10 Dec '11 Dec '12 Dec '13 Dec '14 Dec '15 Dec '16 Dec '17
Acct.Payable 5,210.47
5,990.70
6,412.25
6,729.25
growth rate 15.0% 7.0% 4.9%
Cur.Assets 219.21
307.58
322.97
237.30
growth rate 40.3% 5.0% -26.5%
Total Assets 3,628.50
4,482.00
4,695.70
4,970.24
5,756.99
6,099.23
6,364.91
7,209.47
7,709.38
8,082.03
growth rate 23.5% 4.8% 5.9% 15.8% 5.9% 4.4% 13.3% 6.9% 4.8%
Cash 50.00
121.90
161.30
791.89
764.85
963.77
145.25
254.07
257.30
177.32
growth rate 143.8% 32.3% 390.9% -3.4% 26.0% -84.9% 74.9% 1.3% -31.1%
Inventory 11.38
2.16
4.17
0.61
growth rate -81.0% 93.3% -85.3%
Cur.Liabilities 5,436.31
6,150.97
6,661.08
6,960.10
growth rate 13.2% 8.3% 4.5%
Liabilities 3,323.20
4,069.40
4,259.30
4,501.18
5,227.67
5,507.69
5,724.39
6,438.01
6,844.69
7,138.22
growth rate 22.5% 4.7% 5.7% 16.1% 5.4% 3.9% 12.5% 6.3% 4.3%
LT Debt 51.55
2,008.00
2,009.00
2,010.00
2,011.00
2,012.00
2,013.00
208.77
209.98
108.56
108.54
growth rate 3,795.3% 0.1% 0.1% 0.1% 0.1% 0.1% -89.6% 0.6% -48.3% 0.0%
Equity 220.47
305.30
412.60
436.50
469.06
529.32
591.54
640.53
771.46
864.69
943.81
growth rate 38.5% 35.2% 5.8% 7.5% 12.9% 11.8% 8.3% 20.4% 12.1% 9.2%
Common Shares 14.00
16.00
20.00
21.00
21.00
22.00
23.00
24.00
26.00
26.00
27.00
growth rate 14.3% 25.0% 5.0% 0.0% 4.8% 4.6% 4.4% 8.3% 0.0% 3.9%
Cash Flow Statement Dec '07 Dec '08 Dec '09 Dec '10 Dec '11 Dec '12 Dec '13 Dec '14 Dec '15 Dec '16 Dec '17
Capital Expenditures 7.44
7.40
6.50
7.00
8.32
6.26
9.29
7.68
10.49
10.40
25.08
growth rate -0.5% -12.2% 7.7% 18.8% -24.7% 48.4% -17.4% 36.6% -0.9% 141.3%
Cash Dividends 9.50
11.10
14.60
15.20
16.04
22.49
15.12
22.44
26.17
29.71
34.05
growth rate 16.8% 31.5% 4.1% 5.5% 40.3% -32.8% 48.4% 16.6% 13.5% 14.6%
Cash From OA 39.89
22.00
31.40
46.70
56.47
43.95
141.34
90.31
89.54
93.34
130.91
growth rate -44.9% 42.7% 48.7% 20.9% -22.2% 221.6% -36.1% -0.8% 4.2% 40.3%
FCF per Share 2.25
0.88
1.57
1.86
1.54
1.62
5.25
3.12
2.79
2.19
4.38
growth rate -60.9% 78.4% 18.5% -17.2% 5.2% 224.1% -40.6% -10.6% -21.5% 100.0%
Sale Purchase of Stock 4.95
2.80
3.44
3.89
4.06
2.52
1.85
growth rate -43.5% 23.0% 12.9% 4.5% -37.9% -26.7%
FCF 32.00
14.00
31.00
40.00
47.00
35.00
132.00
77.00
79.00
83.00
106.00
growth rate -56.3% 121.4% 29.0% 17.5% -25.5% 277.1% -41.7% 2.6% 5.1% 27.7%
Income Statement Dec '07 Dec '08 Dec '09 Dec '10 Dec '11 Dec '12 Dec '13 Dec '14 Dec '15 Dec '16 Dec '17
Sales 128.23
145.50
188.90
210.90
248.45
258.21
273.92
255.56
287.69
304.14
338.89
growth rate 13.5% 29.8% 11.7% 17.8% 3.9% 6.1% -6.7% 12.6% 5.7% 11.4%
Op.Income 30.50
29.70
52.50
45.44
42.63
50.25
88.85
106.78
121.35
141.01
growth rate -2.6% 76.8% -13.5% -6.2% 17.9% 76.8% 20.2% 13.6% 16.2%
IBT 30.52
29.74
52.47
62.58
57.30
66.74
83.74
92.18
112.08
134.55
growth rate -2.6% 76.4% 19.3% -8.4% 16.5% 25.5% 10.1% 21.6% 20.1%
Net Income 24.00
23.00
40.20
45.44
42.63
50.25
59.85
64.96
76.65
87.20
growth rate -4.2% 74.8% 13.0% -6.2% 17.9% 19.1% 8.6% 18.0% 13.8%
EPS 2.00
1.52
0.88
1.90
2.12
1.95
2.18
2.49
2.50
2.90
3.19
growth rate -24.0% -42.1% 115.9% 11.6% -8.0% 11.8% 14.2% 0.4% 16.0% 10.0%
Gross Profit 255.56
287.69
304.14
338.89
growth rate 12.6% 5.7% 11.4%

Quarterly Statements

Item Name Sep '17 Dec '17 Mar '18 Jun '18 Sep '18
Earnings BIT 37.91
38.33
35.73
growth rate 1.1% -6.8%
Balance Sheet Sep '17 Dec '17 Mar '18 Jun '18 Sep '18
Acct.Receivable 1.84
1.85
1.89
growth rate 0.6% 2.3%
Acct.Payable 6,682.94
6,729.25
6,751.51
7,013.49
6,976.24
growth rate 0.7% 0.3% 3.9% -0.5%
Cur.Assets 289.22
237.30
194.32
363.12
294.94
growth rate -18.0% -18.1% 86.9% -18.8%
Total Assets 8,052.92
8,082.03
8,090.41
8,381.00
8,375.50
growth rate 0.4% 0.1% 3.6% -0.1%
Cash 252.57
177.32
165.55
287.71
215.95
growth rate -29.8% -6.6% 73.8% -24.9%
Inventory 2.90
0.61
0.36
0.25
0.19
growth rate -78.9% -41.5% -31.6% -22.5%
Cur.Liabilities 6,881.81
6,960.10
6,908.32
7,180.22
7,145.86
growth rate 1.1% -0.7% 3.9% -0.5%
Liabilities 7,121.70
7,138.22
7,134.35
7,403.94
7,377.19
growth rate 0.2% -0.1% 3.8% -0.4%
LT Debt 161.01
108.54
161.03
158.56
158.56
growth rate -32.6% 48.4% -1.5% 0.0%
Equity 931.22
943.81
956.06
977.07
998.31
growth rate 1.4% 1.3% 2.2% 2.2%
Common Shares 0.27
0.27
0.27
0.27
0.27
growth rate 0.0% 0.0% 0.4% 0.0%
Cash Flow Statement Sep '17 Dec '17 Mar '18 Jun '18 Sep '18
Capital Expenditures 4.46
6.44
2.80
2.90
2.42
growth rate 44.3% -56.5% 3.6% -16.8%
Cash Dividends 8.78
8.78
8.78
10.46
10.46
growth rate 0.0% 0.1% 19.0% 0.1%
Cash From OA 39.22
42.48
33.88
33.76
36.15
growth rate 8.3% -20.2% -0.4% 7.1%
Sale Purchase of Stock 0.42
0.56
0.56
0.93
growth rate 35.4% 0.0% 66.2%
FCF 34.76
36.05
31.08
30.86
33.73
growth rate 3.7% -13.8% -0.7% 9.3%
Income Statement Sep '17 Dec '17 Mar '18 Jun '18 Sep '18
Sales 87.84
88.44
87.35
93.06
98.42
growth rate 0.7% -1.2% 6.5% 5.8%
Op.Income 37.21
37.81
35.18
41.49
46.40
growth rate 1.6% -7.0% 17.9% 11.8%
IBT 36.53
36.98
34.38
40.37
42.98
growth rate 1.2% -7.0% 17.4% 6.5%
Net Income 23.85
22.06
27.56
31.12
33.02
growth rate -7.5% 24.9% 12.9% 6.1%
EPS
growth rate
Gross Profit 87.84
88.44
87.35
93.06
98.42
growth rate 0.7% -1.2% 6.5% 5.8%
R&D
growth rate

Growth Grade & Financial Ratios

All financial ratios below are calculated based on latest annual statements available and present the most up to date snapshot of a company finances.

Growth Grade

Historical Growth Grade:

B (80.82)

YOY Growth Grade:

C (55.87)

Click on buttons above for detailed yearly growth rates.

Market Ratios

Profitability Ratios

Liquidity Ratios

Efficiency Ratios

Value Price

PE and EPS

Historical Current Forward
PE 18.74 18.74 12.98
EPS / Growth 8.1% 4.13 8.0%

Value Price & Investment Recovery Time

Read more about Stock2Own value price in Stock Market: Fundamental Analysis.

Equity Growth Rate: 12.2%

Estimates Pessimistic Moderate Optimistic My Numbers
Rate of Return 15.0%
MOS Price % 50 %
Future EPS Growth 8.0% 9.4% 9.4%
Future PE 12.98 16.87 16.87
Future EPS 8.92 10.18 10.18
Value Price
MOS %
28.62
-63.0%
42.44
-45.2%
42.44
-45.2%
MOS Price 14.31 21.22 21.22
IRT 11.30 10.65 10.65

Graham Number:

NOTE: The Graham Number applies only to certain types of stocks in combination with a number of other criteria.

Read more about Graham Number in Stock Market: Fundamental Analysis.

Price Chart

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Risk / Reward Ratios

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